Substitute Limited Partners. No transferee of interests of a Limited Partner shall become a Partner except in accordance with this Section 5.2. The General Partner may, with a Majority Vote of the Limited Partners, admit as a substitute Limited Partner any Person that acquires a Partnership Interest by Transfer from another Limited Partner in accordance with the provisions of Section 5.1. The admission of an assignee as a substitute Limited Partner shall in all events be conditioned upon the execution of an instrument satisfactory to the General Partner whereby such assignee becomes a party to this Agreement as a Limited Partner. Upon the admission of a substitute Limited Partner, the General Partner shall make the appropriate revisions to Schedule A hereto. Notwithstanding the foregoing, upon a Transfer of Partnership Interests to AMG in compliance with the provisions of Section 5.1(b) above, AMG shall be admitted to the Partnership as a Limited Partner with respect to the Partnership Interests so transferred, without the necessity for a Majority Vote.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Affiliated Managers Group Inc), Limited Partnership Agreement (Affiliated Managers Group Inc), Limited Partnership Agreement (Affiliated Managers Group Inc)
